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Under the deal, Dunedin – which is based in Edinburgh and London - will take a significant stake in the business.

GPS was co-founded by entrepreneurs Tony Kerr and Craig Dewar and has around 150 employees in London and Newcastle.

Dunedin partner Oliver Bevan who joins the board of the tech firm with colleague Dougal Bennett, said: “GPS is positively disrupting a multi-billion-pound industry and is well placed to continue leading the way following the rise of other highly successful fin-tech companies. We are really excited to be investing in GPS which represents a significant opportunity for Dunedin to utilise its experience in taking UK companies with a technological edge and enabling them to shine on the international stage.”

The investment is the third financial services deal that Dunedin has completed in two years, following its investments in Kingsbridge and Alpha. Dunedin has also recently completed three successful exits - Blackrock, Alpha and Kee Safety - generating a total return of £231m for investors within a three-month period.